Rupee settles 1 paisa higher at 83.29 against U.S. dollar
The Hindu
The rupee stayed range-bound and settled 1 paisa higher at 83.29 against the U.S. dollar.
The rupee stayed range-bound and settled 1 paisa higher at 83.29 against the U.S. dollar on Thursday amid a negative trend in domestic equities and sustained foreign fund outflows.
At the interbank foreign exchange, the rupee opened at 83.25 and finally settled at 83.29 against the greenback, registering a gain of 1 paisa from its previous close.
During the day, the rupee witnessed a range-bound trade reaching the peak of 83.25 and hitting the lowest level of 83.29 against the American currency.
On Wednesday, the rupee closed at 83.30 against the American currency.
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"Markets will look for clues to the Fed's monetary policy course," Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas, said.
"The pair is expected to continue to range trade between ₹82.80 and ₹83.50 in the near-term," Mr. Singh said.
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